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News Breaks | | | | November 27, 2012 | | 08:04 EDT |  | BEE, FCH, DRH, CHSP, MHGC, HT | JMP Securities to host a tour
New York City Hotel Tour visits various hotels in the New York City area on November 27. | |
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News For DRH;HT;CHSP;FCH;MHGC;BEE From The Last 14 Days Check below for free stories on DRH;HT;CHSP;FCH;MHGC;BEE the last two weeks. |
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| June 17, 2013 | | 10:25 EDT |  | MHGC | Morgans Hotel downgraded to Neutral from Outperform at Credit Suisse
 Subscribe for More Information | | | June 14, 2013 | | 17:16 EDT |  | MHGC | Yucaipa responds to Morgans Hotel proxy contest announcement
Subscribe for More Information | | | 14:04 EDT |  | MHGC | Morgans sale plan may be on hold with OTK slate elected, says Wells Fargo
Subscribe for More Information | | | 13:58 EDT | | MHGC | OTK says seven nominees elected to Morgans Hotel board
OTK Associates, the largest shareholder of Morgans Hotel Group with 13.9% of the outstanding common stock of the company, said earlier that, based on the preliminary results, Morgans stockholders have voted to elect all seven OTK nominees to the company’s board of directors. | | | 08:39 EDT | | BEE | Strategic Hotels worth up to $13 per share, says JMP Securities
Subscribe for More Information | | | June 13, 2013 | | 15:47 EDT |  | BEE | Strategic Hotels hires advisor to explore sale, Reuters says
Subscribe for More Information | | | 15:05 EDT | | BEE | Strategic Hotels jumps 10% after report says exploring sale
Subscribe for More Information | | | 15:05 EDT | | BEE | Strategic Hotels hires advisor to explore sale of company, Reuters says
Reuters cites sources. | | | 10:18 EDT | | FCH | Felcor Lodging to host analyst and investor meeting
Subscribe for More Information | | | 10:05 EDT |  | CHSP | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | | 09:12 EDT | | CHSP | Chesapeake Lodging upgraded to Buy from Hold at KeyBanc
| | | June 12, 2013 | | 10:37 EDT | | MHGC | MKM pegs takeout value of Morgans Hotel at $11-$13 per share
Subscribe for More Information | | | 07:34 EDT | | MHGC | Morgans Hotel sends letter to shareholders
Subscribe for More Information | | | June 7, 2013 | | 07:36 EDT | | MHGC | Morgans Hotel says its board slate committed to initiating sales process
Subscribe for More Information | | | June 5, 2013 | | 12:39 EDT | | MHGC | ISS, Glass Lewis reject entirety of Morgans Hotel Group's slate of nominees
Subscribe for More Information | | | 10:36 EDT | | MHGC | Burkle says not a bidder for Morgans Hotel, supports company slate
Ronald Burkle of Yucaipa, owner of 27.9% of Morgans Hotel's outstanding shares, said in a read regulatory filing: “We read with great interest the announcement by Morgans Hotel Group that its slate of director nominees intends to initiate a process to explore strategic alternatives, including a sale of the Company. As the major creditor of Morgans and the holder of certain key consent rights due to financing we provided to the Company many years ago, we want to express our support for the Company’s slate in pursuing this effort. We believe the litigation with the OTK Group will prevent any reasonable deal from closing including the one Yucaipa currently has executed with the Company. In addition, we note that we do not plan to be a bidder for the Company. Lastly, we note that we do not believe OTK is qualified to run such a process and believe that their election to the Board at the June 14th Shareholder meeting would lead to continued uncertainty and animosity and detract from and actually deter any effort to maximize value for all shareholders.” | | | 10:12 EDT | | MHGC | Morgans Hotel comments on Glass Lewis recommendations
Morgans Hotel Group announced that Glass Lewis & Co. recommended that shareholders do not vote for the full slate of OTK Associates' nominees to Morgans' board. Morgans previously announced that it would nominate six candidates for its seven-person board, thereby ensuring that OTK would be represented on the board by at least one director. "We believe that Glass Lewis reached the right conclusion by not supporting the Olshan children, the hedge fund short-seller and day-trader and another nominee with no relevant experience. However, Morgans strongly believes that Glass Lewis reached the wrong conclusion by backing the other three of OTK's seven director nominees," the company said. | | | June 4, 2013 | | 19:23 EDT | | MHGC | Morgans Hotel says board slate committed to strategic alternatives
Subscribe for More Information | | | 16:20 EDT |  | MHGC | On The Fly: Closing Wrap
Stocks on Wall Street were lower, but the major averages closed well off their worst levels thanks to a move higher in the final hours of trading. The late move wasn't enough, however, to keep the Dow from ending its streak of 20 consecutive higher closes on Tuesday sessions. ECONOMIC EVENTS: In the U.S., the trade deficit widened to $40.3B in April from its $38.8B prior reading, which compared to a deficit forecast of $41.1B. In Europe, an index of U.K. construction activity in May beat expectations and U.K. retail sales were also better than expected. COMPANY NEWS: Salesforce.com (CRM) and IBM (IBM) both announced acquisitions. Salesforce.com will acquire ExactTarget (ET) for $2.5B, or $33.75 per share. The deal sent shares of ExactTarget up $11.59, or 52.44%, to $33.69, while Salesforce slipped $3.24, or 7.89%, to $37.80. IBM said it will buy privately-held SoftLayer and the WSJ pegged the value of the transaction at $2B. IBM shares lost $2.76, or 1.32%, to $206.19. MAJOR MOVERS: Among the notable gainers was G-III Apparel (GIII), up $9.07, or 21.22%, to $51.81 after its first quarter earnings beat estimates and the company raised its full-year earnings outlook. Also higher were shares of Morgans Hotel Group (MHGC), up 86c, or 12.89% to $7.53 after the company said it will explore its strategic alternatives. Among noteworthy losers was Dollar General (DG), down $4.91, or 9.17%, to $48.64 after reporting in-line first quarter earnings giving a full-year earnings outlook below expectations. Also lower was Pandora (P), which slid 83c, or 5.45%, after dropping over 10% yesterday as speculation mounts that Apple (AAPL) will launch a competing music streaming service at its Worldwide Developers Conference next week. INDICES: The Dow was down 76.49, or 0.50%, to 15,177.54; the Nasdaq was down 20.11, or 0.58%, to 3,445.26; and the S&P 500 was down 9.04, or 0.55%, to 1,631.38. | | | 12:32 EDT | | MHGC | On The Fly: Midday Wrap
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